2011 April
Focus on... Real Estate Market/Expo

Real Estate Trends
2011 April What's a Biennial Statement

A fact that is often overlooked is that the corporate operations of most co-ops are governed by the Business Corporation Law (BCL). The Business Corporation Law is the main New York State law which governs how co-op corporatio…

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Q&A
2011 April Q&A: When a Shareholder Falls Ill

Q My ex-[husband] owns his co-op but has become diagnosed as mentally incompetent after a stroke. He is in arrears on maintenance and the co-op is seeking to evict him. He will be homeless. Also if the co-op takes his apartment, wil…

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Q&A
2011 April Q&A: Can I Put Maintenance in Escrow?

Q I’m a co-op owner in Nassau County, where my elderly mother lives. I have written repeatedly to the management company regarding water leakage issues we have been having, but while the management company had a remediation expert e…

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Q&A
2011 April Q&A: Collecting Interest From Maintenance Charge

Q Our cooperative building, for many years, carried a high mortgage. During those years, I did serve on the board. The interest on the mortgage was included in our monthly maintenance fee and was noted yearly for our share for IRS …

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